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Wednesday
Oct142009

Small firms to team up with ‘business buddies’ to help growth

Small businesses facing barriers to growth can team up with ‘business buddies’ from industry big hitters by joining a new program launched by the British Chamber of Commerce.

Business Growth Clubs is a network of like-minded business people who will have access to practical support from industry professionals in companies like BT, Design Council, Dell, NatWest and Royal Bank of Scotland.

The aim is to help small businesses grow despite the restraints placed on trading by the recession. Managing Director of the British Chambers of Commerce (BCC), John Dunsmure, said: "SMEs are operating in a fiercely competitive market and difficult economic conditions. It's easy for them to become frustrated or bogged down in the day-to-day pressures. However, the current backdrop means it is even more important for businesses to stay focused, innovate and develop new skills to ensure they are fit for the future."

A recent BCC study showed small businesses found small businesses needed help in three main areas that the business growth clubs will concentrate on -

    * Many small business owners are focussed on business survival.  While they have the drive and ambition to set up the business they do not have the confidence to recruit new staff that would enable their business to grow.

    * Many SMEs are reluctant to take on debt over the first three years of the business, instead relying on investment from family and friends instead of looking for outside finance

    * The administrative burden that accompanies employment is daunting.  The increasing flow of responsibilities for employers and the constant change in existing regulatory requirements are a real hindrance on growth.

The first step in the initiative is setting up an informal, workshops starting from October 2009.

The workshops will cover a range of topics from banking, motivating teams, successfully selling products and making the most of information technology.

More information about the business clubs is on the BCC web site at http://www.britishchambers.org.uk/zones/business/business-growth-clubs

 



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